Since the latest iPhone launch lacked its traditional éclat, it's time to treat Apple's Asian suppliers with caution, Goldman Sachs said.
Apple's iPhone 5C launch earlier this week didn't meet pricing expectations; coming in at over $500 in the U.S. without a contract and about $100 with a two-year contract and over $700 without a contract in China, industry experts said the price is still too high to crack into emerging markets.
Another disappointment came from the lack of a widely expected announcement of a deal with China Mobile, which boasts over 700 million subscribers and which industry experts believe could offset any sales hit from the iPhone 5C's high price.
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Shares of Apple's Asian suppliers have outperformed the region's tech companies since April, suggesting the new-product hype may be priced in, Goldman said in a note, adding that disappointment with the launch means analysts are unlikely to raise earnings forecasts.
The region's Apple supplier shares dropped Wednesday, a day after the iPhone 5C launch, following an overnight decline in Apple's shares in U.S. trading. Recovery from the sell-off has been spotty.